An empirical investigation of the demand for money in South Africa within the inflation-targeting era
- Authors: Duah, Rachel
- Date: 2016
- Subjects: South Africa--Economic conditions http://id.loc.gov/authorities/subjects/sh85125465 , Inflation targeting--South Africa , Monetary policy--South Africa
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/19465 , vital:43127
- Description: The aim of the study is to empirically test the demand for money function in South Africa’s inflation-targeting era. This came from the fact that there have been a number of structural changes in the South African economy that have appeared to alter the relation between M3 and GDP and other macroeconomic variables. The study employed co-integration tests that showed one co-integrating equation which led to the application of the Vector-Error Correction Model (VECM) using the quarterly time series data covering the period from 2000-2015. The demand for money is investigated by estimating the real money balances as a function of Treasury Bills rate, income and total credit. Results showed that there is a negative relationship among Treasury Bills rate, income and real money balances. However, there is a positive relationship between real money balances and the total credit provided by the banking sector. The CUSUM and CUSUMQ tests are applied to examine the possibility of structural breaks in money demand functions, as well as parameter stability. The results of the study indicated that the estimated parameters for the short and long run dynamics of the real money demand function are stable. It was evident that Treasury bill rate, income and total credit can explain money balances and therefore can influence demand for money. The study recommends that the government ensures that there are economic activities such as employment creation which can then boost income levels so as to get a positive relationship between money balances and income. Through employment creation, there can be a reduction in borrowing. Treasury bill rates, being an effective monetary policy tool, can be used to direct monetary policy and also promote price stability. The study recommends that the South African Reserve Bank continue to improve the conditions in the financial sector. In this regard, the SARB and the government should strive to enact flexible policies that will boost financial credit and uplift business confidence. , Thesis (MCom)(Economics) -- University of Fort Hare, 2016
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- Date Issued: 2016
An exploratory study of the impacts of climate variability on food production availability and access in Chivi district 6, Zimbabwe
- Authors: Gwindi, Raphael
- Date: 2013
- Subjects: Climatic changes , Food security , Agricultural development projects
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26696 , vital:65852
- Description: The impacts of climate variability have been of global concern for many years. These impacts are affecting economic, social, cultural, agricultural, health and political structures in different countries. Although the impacts of climate variability on agricultural production are being experienced globally, it is generally accepted that developing countries are the worst affected due to a variety of reasons. Given the high susceptibility of developing countries to climate variability, this study maps and analyses the impacts of climate variability on agricultural production, food production, availability and access in Chivi District, Zimbabwe. The study aimed at finding out experiences, so it used a qualitative approach. The study uses in-depth and focus group discussions to collect data. Chivi district is experiencing erratic weather patterns which are impacting agricultural production in general and food production in particular. Consequently, food availability and access is on the decline in the district. Even though smallholder farmers have devised coping and adaptation strategies, this is not sufficient to help them fully deal with the impacts of climate variability. This is due to their limited assets, inadequate technology and climate information among other things. In an attempt to assist these smallholder farmers cope and adapt to the impacts of climate variability, NGOs and Government Departments have instituted a number of community interventions. This assistance includes agricultural extension services, farming input support and provision of climate change information and a lot of other things. In view of these findings, the study recommends the universal adoption and growing of small grain drought resistant crops in climate variability affected Chivi. It further recommends that farmers adopt conservation agriculture, get into partnerships and co-operatives to practice irrigation gardening where those without water sources provide equipment, labour and knowledge. The study also recommends that more climate science research be conducted in Zimbabwe by both NGOs and Government Departments. Furthermore, government and NGOs should provide more support for farmers in the form of climate change related training, knowledge and technology transfer among other things. , Thesis (MSoc) -- Faculty of Social Sciences and Humanities, 2013
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- Date Issued: 2013